The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1887-12-22

his interest bearing paper. All the
outstanding bonds Of the govern
ment by the terms OF the act OF
March IS, 1859, became payable at
the option Of the government when
United States notes should be re-
deemable in coin at par, at the OPP
tion OF the holder, which has been
ever since Jan. /, 1879.
Should the accumulation Of Wealth
Be Limited?
The entire property Of the United
States is estimated by those most
competent to judge at e60, 0oo, 00O, 900.
The total population is 90 millions,
hence if the property was equally dis
tributed, each person would possess
$1,000. But it is not; ito distribution,
on the contrary, makes three distinct
classes. Let us for . moment look at
each and see what dangers their ex-
istence threaten, and what remedies
should be adopted to avert them.
Less than 100, 900 persons own over
$2OO, 600 each, their aggregate wealth
being thirty billion dollars, one half
of all the wealth Of the country; an
average Of e3O0, 900 each.
Forty millions Of people own the
remaining thirty billion dollars, or
an average OF $50 each. Some Of
these forty millions own considerably
more than $3.50 and many Of them Of
course much less. The third class Il
10000, 900 strong and il not worth q
dollar in the world, and Is increasing
in numbers more rapidly than either
Of the other classes, its recruits chief
" coming from the middle class.
1t should be the settled policy Of
the government to prevent increas-
ing the number Of this third class, 80
that it shall never constitute q pre-
ponderating majority Of our popula.
ton. Such an event would bode on
ly evil to our institutions, compelling
the persons OF wealth to maintain a
standing army Of these mendicants
to protect them in the possession OF
their accommodations.
The twenty million Of the poorer
class consume less than the same
number of the middle or better class;
and as the most poverty stricken
class is increased in numbers, il the
productive class injured In the de.
creasing demand for, and consump.
ton Of it's products.
This leads Us to remark incident.
ally as we proceed, that the best pro.
tective system any country can
adopt is financial system which will
enable the largest proportion Of it.
people to have good homes, good
clothes, good everything, with an
abundance Of everything to eat.
The system in vogue in this coun
try is the outgrowth of years o.
study, and will require time and /.
great development Of the intellect
before it's evils can be corrected
This is the present work Of tn.
knights Of Labor, None questio,
the existing evils; few suggest RENE
dies; all except the privileged few
complain.
The receipts from taxation for tn
federal government, for 1887, wa
nearly 400 million dollars. The sun
collected for expenditures in tn
states for state, county, municipal
school and road purposes will aggre
gate 800 million dollars. In addition
TO these items il the mountain o
interest upon the private indebted
ness OF the country, at least nine
tsnths Of ell OF which is paid by tn
20 millions Of people who have but al
average Of $3.50 each.
Our remedy is not to level dow,
those belonging to the privileged few
but to level up the oppressed mill
ions.
The first step Is to restore the gov
eminent securities held by the privil
eyed few to the list Of taxable prop
erty, proportionately relieving tn,
producers Of the country.
Notes, mortgages and other evi
dences Of debt, should be taxed ant
should not be collectible unless the,
had been listed for taxation.
Trusts, syndicates, telegraphs, rail
roads, coal combinations, standar.
oil and all similar organization
should be taxed upon their incomes
individuals should likewise be take,
upon their incomes, and the harves
they reap in fields they have no
sown should be largely taken TO
public use.
The government should not unde
any pretext furnish another dollar t,
the national banks, but il it make
loans at one per cent, they should b.
made upon good security to person
engaged in the productive industrie
Of the country, Non interest-bear
ing, full legal tender treasury note
should be issued In denominations Q
one, two and five dollars, sufficien
to meet and pay every pension CLAIM
annually.
Thus would we put limitations up
on the acquisition of wealth By light
euing the load Of the oppressed an
heavy laden, placing their burden
partly oil the dead-heads riding il
the ear of freedom who now shout,
pay their fare or be put of.
Promptness is good motto. II
sharG TO find anything more promp
than st. Patrick's Pills. They arc !
pleasant eailAarIic and y good nedi
CINE. Sold by Lowry = Connolly. ~!